Walmart replaces chief of US division

Greg Foran, 53, currently head of Walmart Asia, will lead the Walmart US division starting August 9, reporting to chief executive Doug McMillon, the company announced.

US retail giant Walmart Stores Thursday announced it is replacing the head of its Walmart US division, which has had declining same-store sales in recent quarters.

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Greg Foran, 53, currently head of Walmart Asia, will lead the Walmart US division starting August 9, reporting to chief executive Doug McMillon, the company announced.

Foran will replace Bill Simon, who has held the post since June 2010 and "will be transitioning out of the company," Wal-Mart said.

"Greg is one of the most talented retailers I've ever met. His depth of knowledge and global experience will bring a fresh perspective to our business," McMillon said.

Foran joined Wal-Mart in 2011 after previously working at Woolworths, a leading supermarket group in Australia and New Zealand.

The US division, which accounts for about 60% of Wal-Mart's overall revenues, had declining comparable store sales of 0.1% in the most recent quarter, after a 0.4% decline in the previous quarter.